Mortgage Loan
Refinance

Investors refinance, lock down risk with low mortgage rates

(4/13/2012) Erate Exclusive - Investors are not just bum-rushing the for-sale housing market, they are showing they are in it for the long haul by refinancing mortgages to manage their risk.

Most buying and refinance mortgage applications continued downward trends for the week ending April 6, according to the Mortgage Bankers Associations' (MBA) Weekly Mortgage Applications Survey, but investors were flipping mortgages almost as fast as they were flipping homes.

In March 2012, the share of mortgage applications for investment properties increased to 8.3 percent from 7.4 percent in February 2012, fueled by refinance applications.

The share of investors' refinance applications jumped to 9.2 percent in March 2012 from 7.7 percent in February 2012. Purchase applications for investment homes actually declined during the same period from 6.1 percent in February 2012 to 5.7 percent in March 2012.

Year over year, however, investment purchases are booming.

Hand picking individual properties, working in groups, buying in bulk and contracting all-cash deals, investors snatched up properties last year at an astounding pace, buying 64.5 percent more properties in 2011 than 2010, according to the National Association of Realtors (NAR).

MBA said its books revealed the investor share of purchase applications on a year-over-year basis were down slightly, just barely, falling from 5.8 percent in March 2011 to its current level of 5.7 percent in March 2012. However, the combined share of investment and second home purchase and refinance mortgage applications were up overall, again thanks to the rising share of refinance applications, as purchase applications slipped.

Non-investment purchase mortgage and refinances trend down

Low interest rates and affordable housing weren't enough to overcome tight credit and economic blahs that keep mortgage originations and refinancing depressed.

The week ending April 6, mortgage applications decreased 2.4 percent from the previous week, MBA reported. The Refinance Index decreased 3.1 percent, while the Purchase Index fell only 0.5 percent, both from the previous week.

The refinance share of mortgage activity decreased for the eighth consecutive week to 70.5 percent of total applications from 71.2 percent the previous week.

This is the lowest refinance share since July 29, 2011. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 5.5 percent of total applications from the previous week.

 


Follow the link to continue reading this article.

Contrarian mortgage shoppers shop around, but not always for mortgages

CFPB mortgage servicing rules expand mortgage industry's regulatory overhaul

More renters becoming first time home-buyers, but most 'boomerang' back to parents

Forecasts call for window to close on record-low interest rates for refinancing

Vacation home market heats up with renewed demand

More short sale investors help fuel housing recovery

 

 

 

 

 

 

Fannie Mae & Jumbo Mortgage Rates

Just One Click! = Current Rate Chart

Pennsylvania Mortgage Rates Current Mortgage Rates - Hawaii Current Mortgage Rates - Alaska West Virginia Mortgage Rates Virginia Mortgage Rates District of Columbia Mortgage Rates Maryland Mortgage Rates Delaware Mortgage Rates New Jersey Mortgage Rates Connecticut Mortgage Rates Rhode Island Mortgage Rates Massachusetts Mortgage Rates New Hampshire Mortgage Rates Vermont Mortgage Rates New Hampshire Mortgage Rates Maine Current Mortgage Rates Vermont Mortgage Rates Current Mortgage Rates - New York Current Mortgage Rates - Michigan Current Interest Rates - Wisconsin Current Mortgage Rates - MINNESOTA Ohio Mortgage Rates Current Mortgage Rates - Kentucky Current Mortgage Rates - Indiana Illinois - Current Mortgage Rates Current Mortgage Rates - Iowa Missouri Mortgage Rates Current Mortgage Rates - North Carolina South Carolina Mortgage Rates Current Mortgage Rates - Florida Current Mortgage Rates - Georgia Current Mortgage Rates - Tennessee Current Mortgage Rates - Alabama Current Mortgage Rates - Mississippi Current Mortgage Rates - Louisiana Current Mortgage Rates - Arkansas Current Mortgage Rates - Oklahoma Current Mortgage Rates - TEXAS Current Mortgage Rates - New Mexico Current Mortgage Rates - Arizona Current Mortgage Rates - Kansas Current Mortgage Rates - Nebraska Current Mortgage Rates - Colorado Current Mortgage Rates - Wyoming South Dakota Mortgage Rates Current Mortgage Rates - North Dakota Current Rates - Montana Idaho Current Rates Washington Mortgage Rates Current Mortgage Rates - Oregon Current Mortgage Rates - Utah Current Mortgage Rates - Nevada Current Mortgage Rates - California

Start by selecting your state


 

 

iPad for Mortgage Rates

Real Estate Market News

Refinancing: Selecting a Loan

Moving Ahead With Your Refinance